What to Know About American Family Renters Insurance
Have you been thinking about buying renters insurance? Have you looked into an American Family renters insurance plan? American Family, also known as AmFam, is known for offering low rates on insurance plans and for their fun commercials. Before we dive into Family Insurance itself, let’s look at why you should buy renters insurance in the first place. Your landlord’s insurance will only cover damage to the rental property as a whole and insure them against liability and loss of income. If your personal belongings are damaged due to a fire, smoke, vehicle impact, or other covered peril, or if they are stolen, you will have to pay for repairs or replacement out of pocket. Renters insurance will provide coverage for your valuables and a number of other things. Most importantly, it gives you and your loved ones peace of mind that you’ll be covered if disaster strikes. Sorting through all the information you need to know before deciding on a renters insurance policy can be a monumental task. We’ve made it easier for you by collecting the most important bits all in one place. You’ll learn about American Family’s coverage options, pricing, claims process, and more.
What American Family Renters Insurance Covers
American Family renters insurance covers the standard 3 categories: renters property, renters personal liability, and loss of use coverage. Renter property coverage helps with the costs of replacing your personal belongings (such as clothes, furniture, and electronics) if they are damaged by fire, water damage, theft, or other covered losses. Renters personal liability provides financial protection from repair, medical, and court costs associated with accidental damage to another’s property and guest injury. Loss of use coverage is for those times when your home becomes uninhabitable due to a covered loss. It will help pay for additional living expenses from your temporary relocation, such as meals and hotel bills. They also offer optional add-ons (also called riders or endorsements). These include identify theft protection, travel protection, protection for your home-based business, and pet insurance. Their coverage does not extend to home maintenance or general wear and tear. They provide different renters insurance coverage packages, with economy protection as the base, traditional protection in the middle, and the best coverage with premier protection. The different tiers typically offer progressively higher policy limits. Note that economy protection does not provide coverage for jewelry or watches or for equipment breakdown from electrical issues.
As with almost every other provider, American Family renters insurance policies do not cover flood insurance. They offer water damage protection, but only for internal sources such as burst pipes. They offer separate flood insurance from the National Flood Insurance Program (NFIP). This policy offers damage protection for your home and its foundation, your possessions, your valuables like jewelry, your functional systems (electrical, plumbing, heating, air condition), your appliances, your fixtures and carpeting, and for your blinds and curtains. Flood insurance policies cost about $700 per year on average. You might be asking if you need flood insurance, especially if you’re not in a flood-prone area. According to the NFIP, 20% of flood claims come from low or moderate risk areas. The damage from even a small amount of flooding can cost upwards of $25,000, so getting flood insurance might offer you a sense of security for that ‘what if’ situation. You can speak with an American Family agent to look into adding flood insurance to your renters insurance policy. Other hazards that are not covered are earthquakes and sewer backup and sump overflow.
Most renters insurance policies, including American Family’s, will not cover damage your pet does to your personal possessions or to your home and its structures. American Family also warns that your policy doesn’t cover injuries suffered by you or your housemates. American Family provides what they call dog liability coverage. This falls under your liability coverage and provides financial protection from lawsuits due to guest injuries (including bites) or damage to other’s property caused by your pet. The minimum liability coverage is typically $100,000. American Family recommends upping your liability fees to $300,000 because of the potential risks a dog presents. They also have dog breed restrictions. Certain breeds require proof of considerations such as securely fenced in yards, as well as documentation showing vaccinations and proof or spaying or neutering. Failure to meet these conditions may result in your dog being excluded from coverage altogether. Dogs with a history of aggressive behaviour might have a reduced dangerous dog liability limited of only $25, 000. American Life also offers a pet insurance add-on for renters proving up to $1,000 in coverage for veterinary costs if your pet in injured during a covered event.
American Family Renters Insurance Review and Costs at a Glance
American Family offers some of the best-priced insurance policies as well as a slew of great discounts. However, they fare worse when it comes to the claims process and overall customer satisfaction. You may find that the average American Life renters insurance review rates them below average, specifically for individual insurance agents. The Better Business Bureau (BBB) gives American Family renters insurance an A, while JD Power gives them a rating of 3/5, an average score. Their NAIC rating is subpar, meaning they’ve received more customer complaints than your average insurance provider. The average American Family renters insurance price is $X.XX per year. American Family renters insurance offers the usual basic protection; it provides coverage for your personal property, your personal liability, and for additional living expenses (also known as loss of use). Despite not being known for the best customer service, they make it easy to contact them through multiple channels. You can chat with American Life agents online, call their 1-800 number, find a local agent for in-person help, email them, and send them mail through the post. American Life even has their own “MyAmFam” app that you can use to manage payments and file claims.
| American Family Renters Insurance Stats Overview | Numbers |
|---|---|
| Average Cost in the U.S for American Family Renters Insurance Annually | $151.32 |
| Average Cost in the U.S for American Family Renters Insurance Monthly | $12.61 |
| American Family Renters Insurance JD Power Rating | 3/5 |
| BBB rating for American Family | A |
How Much is Renters Insurance Through American Family in Your State
Now that we’ve looked at coverage, you’re likely asking, “how much is renters insurance through American Family?” Renters insurance rates can vary considerably based on factors like your credit history, deductible amount, and the location of your home. On average, renters insurance from American Family is $X.XX per month. American Family only provides insurance for 19 states. Of these states, the most expensive for renters insurance from American Family is Colorado, with an average cost of $X.XX per month. The least expensive state Idaho, with a much lower average cost of $X.XX per month.
| American Family Renters Insurance Prices by State | Avg. Costs Per Month for American Family Renters Insurance | Costs Per Year for American Family |
|---|---|---|
| Arizona Renters Insurance | $8.95 | $107.35 |
| Colorado Renters Insurance | $17.07 | $204.88 |
| Georgia Renters Insurance | $12.32 | $147.83 |
| Idaho Renters Insurance | $6.05 | $72.63 |
| Illinois Renters Insurance | $10.89 | $130.67 |
| Indiana Renters Insurance | $9.59 | $115.07 |
| Iowa Renters Insurance | $7.30 | $87.56 |
| Kansas Renters Insurance | $14.11 | $169.33 |
| Minnesota Renters Insurance | $13.00 | $156.00 |
| Missouri Renters Insurance | $14.73 | $176.82 |
| Nebraska Renters Insurance | $16.88 | $202.57 |
| Nevada Renters Insurance | $14.62 | $175.43 |
| North Dakota Renters Insurance | $13.92 | $167.09 |
| Ohio Renters Insurance | $8.07 | $96.89 |
| Oregon Renters Insurance | $6.31 | $75.66 |
| South Dakota Renters Insurance | $8.91 | $106.88 |
| Utah Renters Insurance | $8.12 | $97.41 |
| Washington Renters Insurance | $12.04 | $144.50 |
| Wisconsin Renters Insurance | $8.25 | $98.97 |
How to Get a American Family Renters Insurance and Auto Insurance Discount
A big part of determining the actual American Family renters insurance rate you’ll receive is looking at what discounts and savings are available. American Family offers diminishing deductible coverage, which credits your deductible $100 from the get-go. They promise to continue to reduce your deductible every year at policy renewal (up to your policy’s limit), a kind of loyalty discount for keeping your policy with American Life. Another big way to save is through the American Family renters and auto insurance discount. When you bundle your auto and renters insurance with American Family, you can save 29% on your auto insurance and 15% on your renters insurance. You can easily get the bundle discount by talking to an agent; in fact, they’re likely to offer it unprompted when you buy a new insurance plan. They also have a smart home discount that is applied if you have smart devices like a fire alarm system, moisture detection system, or a Ring Video Doorbell. These types of devices reduce your risk of an event so agents can offer you reduced premiums as you’re less likely to make a claim. Lastly, if you enroll in automatic funds transfer or recurring payments you get an autopay discount.
How Much Does American Family Renters Insurance Cost Versus Competitors
Next we’ll look at the American Family renters insurance cost in comparison with their competitors. American Family’s most expensive competitor is The Hartford. Their average insurance cost comes in at an extra $X.XX per month. Alternatively, American Family’s least expensive competitor for renters insurance is AIG, with a significantly smaller monthly payment, a difference of $X.XX compared to American Life. Note that these prices are only averages and may not represent the quotes you’ll be provided in your area or take into account discounts you are eligible for. Remember that insurance rates are calculated based on numerous factors.
Getting in Touch with American Family Renters Insurance
Often more dreaded than the monthly premium payments is the thought of filing a claim. We’ll go over how to file an American Family renters insurance claim to put your mind at ease. American Life has claim professionals available 24/7. Reporting a claim online is the fastest way; you may also do it online through My Account or the MyAmFam app. You can email or call your claims representative or contact your American Family Insurance agent. To file a claim you have to be ready with the following information: the date and time of the covered event, photos of the damage, a short description of what happened, and the contact and insurance information of any witnesses or involved parties. Once your claim is reviewed, a claims adjuster will be sent out to meet with you. They’ll asses to damage or loss of property before processing your settlement. You can track the status of you claim through the MyAmFam app or My Account. We also recommend making an inventory of your valuables before any loss occurs. This information can come in handy if you have to make a claim about damaged or stolen property.
Let’s talk about American Family renters insurance renewals. You already know you can get a diminishing deductible discount if you renew with American Life. We’ll go over some of the basics of renewing with American Family. A renters insurance policy usually lasts for one year. A renewal statement will be sent to you a few weeks prior to the renewal date. If you choose to keep paying your bill, American Family will automatically renew your policy. Remember that setting yourself up for automatic or recurring payments also makes you eligible for more savings. It is American Family’s recommendation that you review the policy closely before renewing to make sure the information is still accurate. You should also review your renewal offer to see if anything has changed or if there’s more protection you’d like added. It’s easy to be complacent when you can sit back and let auto-renewal do it’s thing, but you should make an effort to frequently check that you’re being charged as you should. More than that, you should occasionally check if other providers offer you better deals- you may decide not to renew one year after discovering special offers or discounts from another company.
Speaking of switching providers, you might want to know how to cancel your American Family renters insurance policy. Other reasons you may looking to cancel are because you’re not satisfied American Family’s service, you’re being added to your partner’s insurance, or you’ve stopped renting. American Life suggests that the easiest way to cancel a policy with them is to call your agent. You can find yours using the agent locator they provide on their website. You can also call the 24/7 customer care center for help finding your agent. They can even submit a cancellation request form on your behalf. When you speak with an agent, they’ll probably ask you why you’re cancelling your policy to see if they can offer help to persuade you to stay. If you’re cancelling because of high premiums, they suggest lowering coverage limits or removing optional coverage. They also tell you to check for discounts (hopefully you did this before signing up). Your agent may also suggest new offerings if you’re not happy with your coverage options or offer to schedule a personal insurance review to see if the policy can be tweaked to better fit your needs.
Getting a American Family Renters Insurance Quote and Deciding Whether American Family is Right for You
American Family’s free online quote system requires that you put in some personal information (name, date of birth, phone number, email address), the date you’d like your renters coverage to start, and your desired coverage options. You’ll be directed to select from the three tiers of insurance we previously mentioned. You can also choose custom coverage limits. After that, you can review and submit your quote request. It’s a fairly quick and easy process, but calling an agent is always an option and might allow for even more personalized quotes. We’ve outlined all the information you’ll need to get started on obtaining a quote from American Family as well as what you can expect from your American Family renters insurance policy. We always suggest shopping around and comparing rates and policy details from multiple insurance providers. We know finding sufficient information on a company’s policies can be time-consuming and even frustrating. We hope we’ve helped streamline the process with the information we’ve presented. Consider checking our pages on other companies to make your comparisons. We want you to get an affordable plan that will meet all your coverage needs and a provider you’re happy with.
